Growth in construction industry and rise in demand for construction equipment are the upcoming trends of Global Construction Dumper Market in the world.
WILMINGTON, DELAWARE, March 20, 2024 /EINPresswire.com/ — Prime determinants of growth
The growing construction and infrastructure industry is significantly contributing toward the market growth. However, countries such as the U.S., Germany, and other developing countries are focused on developing new technologies in the construction dumper industry to sustain their market share during the forecast period.
Dumpers trucks are essential pieces of machinery designed to haul heavy loads of materials such as gravel or dirt. This construction equipment is highly adopted in mining, forestry & agriculture and construction sectors. However, there are two different kinds of construction dumpers trucks which includes rigid and articulated. Articulated dump trucks provide greater flexibility by separating the cab and the body. However, rigid dump trucks may still prove more effective in certain working conditions and circumstances.
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According to the report, the global construction dumper market was valued at $20.2 billion in 2022 and is projected to reach $33.5 billion by 2032, registering a CAGR of 5.2% from 2023 to 2032.
The articulated segment dominated the market in 2022, and the rigid segment is expected to grow at a significant CAGR during the forecast period
On the basis of type, the construction dumper market is segregated into articulated and rigid. The articulated segment accounted for a higher market share in 2022, accounting for more than half of the market revenue.
An articulated dump truck is ideal for trips and job sites that require navigating tight corners. An articulated dump truck allows the operator to drive with a greater degree of precision and confidence. The tighter turning radius of an articulated dump truck also makes it safer to operate which further enhance safety. The articulated dump truck is lighter compared to a rigid dump truck, with wider tires helping spread the load being carried.
This hauler also has a shorter job life compared to a rigid dump truck, averaging between a few days to a few years as size limits what the truck is capable of offering over an extended period. Various construction dumper manufacturers are launching new advanced articulated tucks for mining and construction applications. For instance, in September 2021, Bell Equipment Engineering R&D (Bell) and Pronto AI (Pronto) have been working closely for around 18 months to engineer and refine Pronto’s own developed hardware and software to produce and prove a self-drive Bell articulated dump truck. Hence, the companies have launched first self-drive articulated dump truck in North America. This in turn is expected to drive the growth of the market.
The diesel segment dominated the market in 2022, and CNG segment is expected to grow at a significant CAGR during the forecast period
Depending on fuel type, the construction dumper market is categorized into gasoline, diesel and CNG. The diesel segment is accounting for more than half of the market revenue.
Low cost and wide-spread availability of diesel across the globe drive the diesel fueled construction dumper. Diesel construction dumper is widely adopted in budget constraint construction and development projects due to low maintenance and service cost. Also, diesel fuel is less flammable and has the ability to bear high load, which increases its demand in domestic and commercial construction projects. Owing to these factors, diesel fueled construction dumpers are expected to hold major chunk of the market share during the forecast period.
Moreover, various key players are focusing on manufacturing diesel dumper for construction and mining application. For instance, in June 2022, Hyundai Construction Equipment launched two new articulated diesel dump truck models, as part of its rapidly expanding line of heavy construction and earthmoving equipment. Hyundai has employed powerful EU Stage V-compliant Scania diesel engines to power both trucks. Hence, such factors are driving the segment growth and thus fueling the global market growth.
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Leading Market Players:
AB Volvo
Caterpillar Inc.
CNH Industrial N.V.
Deere & Company
Doosan Corporation
Epiroc AB
Hitachi Construction Machinery Co., Ltd.
JCB
Komatsu Ltd.
Liebherr
Key Findings of The Study –
The report provides an extensive analysis of the current and emerging global construction dumper market trends and dynamics.
Depending on product type, the articulated segment has dominated the construction dumper market, in terms of revenue in 2022 and rigid segment is projected to grow at a significant CAGR during the forecast period.
By fuel type, the diesel segment has registered highest revenue in 2022.
By application, construction segment has registered highest revenue in 2022.
Asia-Pacific is projected to register highest growth rate in the coming years.
The key players within the construction dumper market overview are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the construction dumper industry.
The report provides an extensive analysis of the current trends and emerging opportunities of the market.
In-depth global construction dumper market analysis is conducted by constructing estimations for the key segments between 2022 and 2032.
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Allied Market Research
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